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Fragrance and personal care

Chanel taps former CFO for beauty position

January 10, 2017

Chanel Le Rouge Collection N°1 Chanel Le Rouge Collection N°1

 

French fashion house Chanel has hired from within to fill its vacant U.S. beauty chief position.

In December, after 14 years with Chanel, Julien Gommichon stepped down as executive vice president of fragrance and beauty in the U.S. market. Cosmetics and fragrances is a popular category for Chanel, with its N°5 perfume topping best-selling and most-iconic lists.

Beauty makeover
Effective Feb. 1, Barbara Menarguez will succeed Mr. Gommichon as executive vice president of fragrance and beauty.

Ms. Menarguez has worked for Chanel for nearly 20 years. Prior to her appointment as executive vice president of fragrance and beauty, Ms. Menarguez was senior vice president and chief financial officer for Chanel’s New York-based operations for nearly a decade.

In her role as Chanel’s CFO, Ms. Menarguez was responsible for managing the tax, treasury, accounts payable, payroll, accounting, customer management and financial planning departments, according to WWD.

Chanel Lily Rose

Lily-Rose Depp for Chanel N°5 L'Eau 

An important category for Chanel, its offerings in beauty and fragrance leads the industry in establishing a strong emotional connection with consumers through a foundation of intimacy, according to MBLM.

Brands with a high Brand Intimacy Quotient check off some or all of the six markers needed to cultivate a strong relationship with target consumers. These markers are then measured by the strength of the bond created, based on sharing, bonding and fusing.

Chanel Beauty’s marketing is proficient in embracing the six markers needed for a strong relationship with consumers, including indulgence due to its price and status as a luxury brand. Also, Chanel Beauty commonly references its identity and includes nods to nostalgia to connect with consumers and push its products, both of which are MBLM markers (see story).